Nigeria - Dried Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPowdered Milk Price in Nigeria - 2022
Contents:
- Powdered Milk Price in Nigeria (CIF) - 2022
- Powdered Milk Price in Nigeria (FOB) - 2022
- Powdered Milk Imports in Nigeria
- Powdered Milk Exports in Nigeria
Powdered Milk Price in Nigeria (CIF) - 2022
The average powdered milk import price stood at $4,219 per ton in 2022, with an increase of 25% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +82.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 32% against the previous year. Over the period under review, average import prices reached the maximum at $4,327 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from New Zealand ($4,395 per ton) and Germany ($4,142 per ton), while the price for France ($3,347 per ton) and the Netherlands ($3,672 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Powdered Milk Price in Nigeria (FOB) - 2022
The average powdered milk export price stood at $5,363 per ton in June 2022, jumping by 142% against the previous month. Overall, the export price showed a resilient expansion. The export price peaked at $7,814 per ton in January 2022; however, from February 2022 to June 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Ghana.
From August 2021 to June 2022, the rate of growth in terms of prices for Ghana amounted to +5.5% per month.
Powdered Milk Imports in Nigeria
In 2022, overseas purchases of powdered milk decreased by -40% to 81K tons, falling for the second year in a row after two years of growth. In general, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2020 when imports increased by 91% against the previous year. As a result, imports reached the peak of 259K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, powdered milk imports fell notably to $343M in 2022. Overall, imports, however, enjoyed a tangible increase. The pace of growth appeared the most rapid in 2020 when imports increased by 153%. As a result, imports attained the peak of $794M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Powdered Milk in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 79.6 | 318 | 226 | 225 | 41.4% |
| Australia | N/A | N/A | 10.0 | 20.5 | 105.0% |
| Germany | 58.3 | 164 | 50.9 | 18.8 | -31.4% |
| Netherlands | 44.1 | 47.9 | 47.1 | 16.4 | -28.1% |
| France | 4.9 | 14.7 | 28.3 | 12.9 | 38.1% |
| Ireland | 48.7 | 75.6 | 40.0 | 12.1 | -37.1% |
| Belgium | 23.5 | 25.2 | 5.0 | 11.5 | -21.2% |
| Denmark | 16.1 | 40.9 | 23.4 | 1.4 | -55.7% |
| Sweden | 19.6 | 62.6 | 6.2 | N/A | -43.8% |
| Others | 19.6 | 45.5 | 18.8 | 23.7 | 6.5% |
| Total | 314 | 794 | 456 | 343 | 3.0% |
Top Suppliers of Powdered Milk to Nigeria in 2022:
- New Zealand (51.3K tons)
- Australia (5.1K tons)
- Netherlands (4.5K tons)
- Germany (4.5K tons)
- France (3.8K tons)
- Ireland (3.1K tons)
- Belgium (3.0K tons)
- Denmark (0.4K tons)
Powdered Milk Exports in Nigeria
In 2022, the amount of powdered milk exported from Nigeria skyrocketed to 1K tons, jumping by 376% on the previous year. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, powdered milk exports skyrocketed to $3.9M in 2022. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Powdered Milk in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 865 | 664 | 595 | 3,798 | 63.7% |
| United Arab Emirates | 0.1 | 0.8 | N/A | 119 | 959.7% |
| Others | 65.1 | N/A | 51.3 | N/A | -11.2% |
| Total | 930 | 665 | 646 | 3,917 | 61.5% |
Top Export Markets for Powdered Milk from Nigeria in 2022:
- Ghana (1010.2 tons)
- United Arab Emirates (32.3 tons)
This report provides an in-depth analysis of the powdered milk market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 897 - Dry Whole Cow Milk
- FCL 898 - Dry Skim Cow Milk
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the powdered milk market in Nigeria.
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This report provides an in-depth analysis of the whole powdered milk market in Nigeria.
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This report provides an in-depth analysis of the global powdered milk market.
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This report provides an in-depth analysis of the global market for powdered, condensed or evaporated milk.
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Explore the top import markets for powdered milk and discover key statistics and numbers showcasing the global trade in this sector. China, Algeria, Indonesia, Mexico, United Arab Emirates, Philippines, Netherlands, Malaysia, Belgium, and Thailand are the leading countries in the import value of powdered milk.
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Germany dominates in the global skimmed milk trade. In 2014, Germany exported X thousand tons of skimmed milk totaling X million USD, X% under the previous year. Its primary trading partner was Italy, where it supplied X% of its total skimmed mi
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New Zealand seized control of the market for evaporated and condensed milk. In 2014, New Zealand exported X thousand tons of evaporated and condensed milk totaling X million USD, X% over the previous year. Its primary trading partner was Chin
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Explore the top import markets for powdered, evaporated, and condensed milk in the world. Learn about the countries with the highest import values and key statistics. Find out how IndexBox market intelligence platform provides valuable insights.
298
Explore the top import markets for powdered milk and discover key statistics and numbers showcasing the global trade in this sector. China, Algeria, Indonesia, Mexico, United Arab Emirates, Philippines, Netherlands, Malaysia, Belgium, and Thailand are the leading countries in the import value of powdered milk.
1309
Germany dominates in the global skimmed milk trade. In 2014, Germany exported X thousand tons of skimmed milk totaling X million USD, X% under the previous year. Its primary trading partner was Italy, where it supplied X% of its total skimmed mi
1708
New Zealand seized control of the market for evaporated and condensed milk. In 2014, New Zealand exported X thousand tons of evaporated and condensed milk totaling X million USD, X% over the previous year. Its primary trading partner was Chin
228
Explore the top import markets for powdered, evaporated, and condensed milk in the world. Learn about the countries with the highest import values and key statistics. Find out how IndexBox market intelligence platform provides valuable insights.
